Sustainability Initiatives
External evaluation and Initiative
GRESB
GRESB is an annual benchmarking assessment to measure ESG integration of real estate companies and funds, as well as the name of the organization which runs the assessment. It was established in 2009 primarily by a group of major European pension funds, which led the launch of Principles for Responsible Investment.
Awarded 5 Stars and Green Star in GRESB Real Estate Evaluation
GLP J-REIT received a “5 Stars” GRESB Rating for the sixth consecutive year, the highest in the GRESB five-level rating system based on the GRESB Overall Score and its quintile position relative to global participants.
It also received a “Green Star” designation for the eleventh consecutive year by achieving high performance both in “Management Component” that evaluates policies and organizational structure for ESG (Environmental, Social and Governance) promotion, and in “Performance Component” that assesses environmental performance and tenant engagement of properties owned.
Acquisition of "A level" in the GRESB disclosure evaluation
GLP J-REIT received the highest “A Level” for the GRESB Public Disclosure, which assess the width of ESG disclosure in the GRESB disclosure evaluation (5-step evaluation).
- The awards and ratings noted herein relate only to selected funds/strategies and may not be representative of any given client’s experience and should not be viewed as indicative of past performance or its funds’ future performance. All investments involve risk, including loss of principal.
TCFD
The TCFD is an international initiative established in 2015 by the Financial Stability Board (FSB) at the request of the G20 Finance Ministers and the Central Bank Governors Meeting to discuss climate-related issues to be addressed by the financial sector. TCFD discusses how financial institutions and companies should disclose the impacts of climate-related risks and opportunities on the organization’s businesses to investors and other stakeholders, and announces recommendations.
Expression of Support for TCFD Recommendations
In August 2021, GLP Japan Advisors Inc., the asset manager, has signed off as a supporter of the Task Force on Climate-related Financial Disclosures (TCFD) , a body established by the Financial Stability Board, and participated in the TCFD Consortium, a group of domestic companies that support TCFD recommendations.
OBTAINING SBTI CERTIFICATIONS
The Science Based Targets initiative (SBTi) is an international initiative that offers companies a clear, actionable path to align GHG emission reductions with the Paris Agreement goals – aiming to limit the global average temperature increase to 1.5°C above pre-industrial levels. GLP J-REIT has obtained certification of its Scope 1 and 2 emissions reduction targets from the SBTi. To achieve our targets, we promote emission reduction initiatives through engagement with stakeholders, including tenants and property management department.
